Buy-to-let "crisis"

It is calling for the Government to take urgent action now to help vulnerable households.

It says the Government must move to accept proposals to increase the rights of tenants in 132,000 buy-to-let properties when this matter is voted on in the Dáil.

According to the report, there are 14,518 buy-to-let mortgages in arrears by more than 720 days, accounting for 11% of all buy-to-let mortgages.

There was an increase of 5.4% in the number of buy-to-let accounts where a rent receiver was appointed.

This follows on from an increase of 1% in the previous quarter, the Central Bank says.

Focus Ireland director of advocacy, Mike Allen, said: "The overall picture emerging is of further deterioration of the situation in the buy-to-let market with thousands of tenants at risk of losing their home, not through any fault of their own but because their landlord is unable to pay their mortgage."

Ross Maguire, of debt solutions agency New Beginning, told Newstalk Drive the majority of those affected are not able to restructure their mortgage.